The 8 percent yield is a little too much considering we are in a slow growth industry as well as a slow growth industry. so the question then becomes why such a large dividend in a time when you probably should be conserving cash instead of paying out most of your earnings in dividends. As i said before the large dividend is either a reflection of getting the money out of the company before the crap hits the fan or just a stupid assumption that the glory days are going to come back
Stupid assumption is right. They're going to have a hard time recouping the investment they put into Kendallville. All of that was a stupid assumption, believing the ill informed and out of touch middle management who were acting as though books were going to continue at the pace they were. The crap has already hit the fan greendog, it's just a matter of trying to stay away from where it flies!